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Oct 26, 2012
10/12
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KRCB
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as diane eastabook reports cities like chicago are hoping the grants could be a first step in turning around distressed neighborhoods. >> all of you out there probably know what your numbers are. >> reporter: these chicagoans are lining up for what could be a chance of a lifetime. they're applying for $15,000 grants to be used for the purchase of a home. the money is coming from wells fargo and it's part of multi- million dollar national fair lending settlement between the bank, the u.s. justice department, and several states including illinois. >> the programs desire and intent was not only to spark not only the market, but to spark people's imagination to get them interested in buying a home again. >> reporter: the $8 million set aside for the chicago grants could help revitalize neighborhoods hard hit by the housing crisis. to be eligible for the grants, potential buyers must first get pre-approved for a mortgage either here or before the event. that means having good credit and employment. then they must get eight hours of buyer counseling. >> it's understanding it's not just the
as diane eastabook reports cities like chicago are hoping the grants could be a first step in turning around distressed neighborhoods. >> all of you out there probably know what your numbers are. >> reporter: these chicagoans are lining up for what could be a chance of a lifetime. they're applying for $15,000 grants to be used for the purchase of a home. the money is coming from wells fargo and it's part of multi- million dollar national fair lending settlement between the bank, the...
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Oct 31, 2012
10/12
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KQED
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city buses began rolling on new york streets at 5:00 p.m. eastern time today, but only partial service and on a reduced schedule. we have more on the work ahead to get new york moving again with erika miller. >> reporter: in new york city, the subway is a lifeline. the transportation network is the center of culture and commerce. more than four million people a day go through subway turnstiles, which are part of the largest mass transit system in the nation. the 108-year-old system has never faced a disaster as devastating as this one. it's not just a matter of restoring power and cleaning up sludge and debris. the big unknown is whether salt water will corrode signal and switch systems. fortunately, most of the train cars weren't damaged by the storm, because they were moved to safety ahead of time. but it's unclear when service will be fully restored. when it does, service will come back in stages, with riders forced to rely on a mix of trains and buses to get around town. that's creating a big headache for many families. kids take the sub
city buses began rolling on new york streets at 5:00 p.m. eastern time today, but only partial service and on a reduced schedule. we have more on the work ahead to get new york moving again with erika miller. >> reporter: in new york city, the subway is a lifeline. the transportation network is the center of culture and commerce. more than four million people a day go through subway turnstiles, which are part of the largest mass transit system in the nation. the 108-year-old system has...
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Oct 31, 2012
10/12
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KRCB
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here in new york city, commerce has been crippled. and power is not expected to be restored in many areas until next week. i.h.s. global predicts that if the areas affected by sandy lose a quarter of their output for just two days, it would knock about $25 billion off u.s. economic growth in the fourth quarter. that could be as much a 0.6%. but longer-term, some of the financial losses should be recovered by repair and rebuilding efforts. home improvement stores like home depot and lowes will likely get a boost in sales. many construction jobs will be created to rebuild homes and businesses. and governments will be spending huge amounts of money to repair subways, roads, and bridges so all of those efforts should help boost economic activity early next year. erika miller, "n.b.r.," new york. >> susie: joining us now for a closer look at sandy's economic impact, mark zandi, chief economist at moody's analytics. you know, mark, people often hear that when there's a sdater like zandi, that it's actually a boost to the economy. is that go
here in new york city, commerce has been crippled. and power is not expected to be restored in many areas until next week. i.h.s. global predicts that if the areas affected by sandy lose a quarter of their output for just two days, it would knock about $25 billion off u.s. economic growth in the fourth quarter. that could be as much a 0.6%. but longer-term, some of the financial losses should be recovered by repair and rebuilding efforts. home improvement stores like home depot and lowes will...
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161
Oct 25, 2012
10/12
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WETA
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eye 161
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more than 8,000 apartments are under construction in the city right now. that's the largest number since at least the '90s, and the pipeline for new projects is much bigger. a lot of the projects underway right now are going to be finished at about the same time. that leaves some people to wonder if the extra supply will actually lower rent rates. >> we are likely to see an increase in concessions or specials, in terms of three months rent or waiving fees. so from a renter's standpoint or point of view, they will have more choices and likely will have some costs savings, minimally over the next couple of years. >> reporter: but across the country, rents have soared in recent years. last year alone, they increased more than 5%. as prices rise, many here hope construction won't slow down. >> the buying power of higher- income households is driving up the cost of rents and home prices, so supply is absolutely an important part of addressing affordability. >> reporter: and in a city like d.c., developers are more than happy to help out. >> long term, the demog
more than 8,000 apartments are under construction in the city right now. that's the largest number since at least the '90s, and the pipeline for new projects is much bigger. a lot of the projects underway right now are going to be finished at about the same time. that leaves some people to wonder if the extra supply will actually lower rent rates. >> we are likely to see an increase in concessions or specials, in terms of three months rent or waiving fees. so from a renter's standpoint or...
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110
Oct 16, 2012
10/12
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WMPT
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but 24 hours later, citi's new c.e.o. michael corbat and citi chairman michael o'neill hosted a call of their own and explained what happened. so to be clear, today's changes do not reflect any desire to alter this strategic direction of city. >> o'neill and pandit have reportedly clashed on >> reporter: o'neill and pandit have reportedly clashed on everything from pandit's compensation to the bank's future. neil barofksy, the government's former special inspector for tarp and author of the book "bailout," said pandit's departure was overdue. >> i don't know whether he was forced out, encouraged to leave, or he found the current atmosphere to be too hostile to stay. but it doesn't surprise me, and there's nothing surprising and it probably was his time to go. and it probably was his time to go two, three or four years ago. >> reporter: pandit has been with citi since december 2007, inheriting a banking monster on the brink of failure. he steered it through the financial crisis, repeatedly asking the government for bailout
but 24 hours later, citi's new c.e.o. michael corbat and citi chairman michael o'neill hosted a call of their own and explained what happened. so to be clear, today's changes do not reflect any desire to alter this strategic direction of city. >> o'neill and pandit have reportedly clashed on >> reporter: o'neill and pandit have reportedly clashed on everything from pandit's compensation to the bank's future. neil barofksy, the government's former special inspector for tarp and...
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Oct 26, 2012
10/12
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KQEH
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it unveiled its much anticipated new operating system, windows 8, here in new york city, and showed off itsew tablet, the surface. i the operatinstem key feature-- an ability to work across all computers: tablets, laptops and desktops. or one r llion hours of testing time went into the newho operating system and the surface taet. c.e.o. steve ballmer calls them a milestone in computing. >> with windows 8, we've brought together the best of worlds-- the p.c. and the tablet; your work, life, and play.ta windows 8 will helpou do everything, and it will make it a lot of fun, frankly, to do nothing. one device now combines the ties with the p.c. q with the greatest qualities of the tablet experience. >> susie: joining us now with more on tablets, and those apple earnings, david garrity, hd of his own tech research firm, gva y,search. david, you have been a real strong recommender of apple stock. any change in your thinking because of those earnings today and the disappointment? >> susie, no. for a couple simple reasons. fir off, apple with theirfi announcement earier this week not only of th
it unveiled its much anticipated new operating system, windows 8, here in new york city, and showed off itsew tablet, the surface. i the operatinstem key feature-- an ability to work across all computers: tablets, laptops and desktops. or one r llion hours of testing time went into the newho operating system and the surface taet. c.e.o. steve ballmer calls them a milestone in computing. >> with windows 8, we've brought together the best of worlds-- the p.c. and the tablet; your work,...
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Oct 12, 2012
10/12
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KRCB
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eye 185
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citi has problem relating to housing. they are stimulating emerging markets where citi is the strongest. >> all right, let's take a look at some of your other picks besides citi. you like goldman sachs. you have been telling us this all year. and the regional bank suntrust. again, was's the attraction? >> suntrust again is in the southet. it has continuedto have credit problems later than a lot of the other banks. but that's been a bad thingment but now we think it's a good thing. because right now we can still see a lot of positive improvements as we start to see a pick up in the economy and housing and places like florida, can help move that stock back up. so we still like suntrust. >> we just have about 45$p)-sec. a new round of bank stress tests coming up. how do you think banks are going to do. are they strong enough to withstand a financial downturn? >> well, i think they're strong enough. the question is does the fed think they're strongnough. and that is what we will find out. i think it will be a tough time perio
citi has problem relating to housing. they are stimulating emerging markets where citi is the strongest. >> all right, let's take a look at some of your other picks besides citi. you like goldman sachs. you have been telling us this all year. and the regional bank suntrust. again, was's the attraction? >> suntrust again is in the southet. it has continuedto have credit problems later than a lot of the other banks. but that's been a bad thingment but now we think it's a good thing....
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Oct 10, 2012
10/12
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WETA
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eye 133
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only new york and kansas city saw a leveling off or slowing of growth. residential real estate was the one major sweet spot, showing widespread improvement. >> we've seen a pickup in house prices, we've seen a pickup in construction activity, a little bit better demand for loans. so, it generally corroborates what we've been seeing in the economic reports on the housing market. >> reporter: conditions in the manufacturing sector were mixed, but somewhat improved since the last reading. meanwhile, the job market was little changed since the last report, which was the released in august. that was a bit of a surprise, given the recent drop in the nation's unemployment rate. but, at least one economist says it suggests the lower jobless rate may not be sustainable. >> it doesn't appear that the labor market is really showing all that much fundamental improvement and that's not all that surprising given the uncertainty around the pending fiscal cliff at yearend, the upcoming election. >> reporter: today's new economic evidence is consistent with third quarter
only new york and kansas city saw a leveling off or slowing of growth. residential real estate was the one major sweet spot, showing widespread improvement. >> we've seen a pickup in house prices, we've seen a pickup in construction activity, a little bit better demand for loans. so, it generally corroborates what we've been seeing in the economic reports on the housing market. >> reporter: conditions in the manufacturing sector were mixed, but somewhat improved since the last...
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95
Oct 9, 2012
10/12
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KQED
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eye 95
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announced today it is selling its texas city refinery. marathon petroleum is buying it for $2.5 billion, including the oil supplies on sight. this refinery was the sight of a deadly explosion in 2005, leading to a record fine against b.p. for safety failures. >> susie: those high gasoline prices could keep americans home this holiday season. but, it may not mean holiday stockings will go empty. according to a variety of retail sources, americans plan to do a lot of their shopping in the comfort of their own homes, online. in fact online sales could be a bright spot in an otherwise lackluster retail season. suzanne pratt has the story. >> reporter: stores like this one are where americans will do the majority of their holiday shopping this year. but, increasingly more and more consumers will let their fingers do the buying, by shopping online. so much so that online sales are expected to account for as much as 15% of total industry sales this christmas. just five years ago that number was a paltry 3%. there are a variety of factors that ar
announced today it is selling its texas city refinery. marathon petroleum is buying it for $2.5 billion, including the oil supplies on sight. this refinery was the sight of a deadly explosion in 2005, leading to a record fine against b.p. for safety failures. >> susie: those high gasoline prices could keep americans home this holiday season. but, it may not mean holiday stockings will go empty. according to a variety of retail sources, americans plan to do a lot of their shopping in the...
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Oct 5, 2012
10/12
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KQEH
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million people in america who are out of work, but still ahead, i'll introduce you to two new york city firms that can't hire workers fast enough. >> tom: the federal government made what it called one of the largest medicare fraud crackdowns today, arresting dozens of people across seven cities, accusing them of cheating medicare out of $430 million. today's busts involved 91 people, including doctors, nurses, and hospital administrators, including these arrests in miami. among the scams-- the president of riverside general hospital in houston and his son are accused of giving medicare patients food and cigarettes for claiming to get hospital care, but instead watched tv or played games. federal prosecutors said that scheme led to $158 million in fake bills. today's action, announced by the justice department, stretched from brooklyn to los angeles. >> this is something i think we see at a variety of levels. we see it among people who are health care professionals who take oaths to provide care and do no harm, and in fact they are doing great harm. we are going after people, whatever t
million people in america who are out of work, but still ahead, i'll introduce you to two new york city firms that can't hire workers fast enough. >> tom: the federal government made what it called one of the largest medicare fraud crackdowns today, arresting dozens of people across seven cities, accusing them of cheating medicare out of $430 million. today's busts involved 91 people, including doctors, nurses, and hospital administrators, including these arrests in miami. among the...
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Oct 19, 2012
10/12
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KQEH
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eye 187
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the number freelancers inan this new york city borough hasn increased 3,000% in the past decade. david himmelstein is a professor of public health at hunter llege, and thinks the clinic is a good idea. his concern is whether the union's insurance plan can llsurvive.s >> when you set up an insurance plan and say anyone can join, basically you are likely to attract sick older people who can't get insurance elsewhere in the system. and over the long term, that has doomed simir insurance efforts in the past. >> reporter: but the freelancers union hopes its holistic approach to medicine and emphasis on preventive care will help lower healthcare costs.ra and that's good for insurance company and patient alike. >> this can really give people the kind of care they need, and it omn also be much more economical, so we can make freelancers' dollars go further. >> reporter: if the pilot is successful, the freelan ers eeunio hopes un exp ed to other cities around the country.d erika miller, nbr, brooklyn. >> tom: tomorrow on nbr, we meet a woman who says she's earning almost as much money wor
the number freelancers inan this new york city borough hasn increased 3,000% in the past decade. david himmelstein is a professor of public health at hunter llege, and thinks the clinic is a good idea. his concern is whether the union's insurance plan can llsurvive.s >> when you set up an insurance plan and say anyone can join, basically you are likely to attract sick older people who can't get insurance elsewhere in the system. and over the long term, that has doomed simir insurance...
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440
Oct 15, 2012
10/12
by
WMPT
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eye 440
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shares of citi climbed more than 5% to close at more than $36 a share. but the stock is still struggling to regain its footing. bank of america and goldman sachs also were big gainers today, each adding more than 3%. goldman reports its earnings tomorrow. bank of america on wednesday. over in the healthcare world, shares of eli lilly gained on word the drugmaker's experimental stomach cancer treatment may improve survival rates. and, the stock has been on tear, rising to a new 4.5 year high. today, it jumped 4% to $52.53 shares of abbott labs also rose on reports nearly all of the patients treated with the company's oral hepatitis-c drug have be cured in midstage trials. that encouraging news lifted the stock 4%., pushing it to an all- time high of 72 and change. meanwhile, amazon.com is reportedly in advanced talks to buy the mobile chip unit of texas instruments. analysts believe a deal would strengthen amazon's supply chain and allow it to more efficiently compete against rivals apple and samsung. there is no word yet on a price. but, shares of texas
shares of citi climbed more than 5% to close at more than $36 a share. but the stock is still struggling to regain its footing. bank of america and goldman sachs also were big gainers today, each adding more than 3%. goldman reports its earnings tomorrow. bank of america on wednesday. over in the healthcare world, shares of eli lilly gained on word the drugmaker's experimental stomach cancer treatment may improve survival rates. and, the stock has been on tear, rising to a new 4.5 year high....